Key Points
- Equitable director Arlene Isaacs-Lowe sold 1,000 shares at an average price of $52.83, generating $52,830 and reducing her direct ownership by 4.82% to 19,763 shares.
- Equitable reported quarterly EPS of $1.70, beating estimates of $1.65, though revenue fell 29.8% year over year to $1.66 billion. The company also maintains a quarterly dividend of $0.30 per share, yielding approximately 2.3% annually.
- Wall Street analysts maintain a “Moderate Buy” consensus with an average price target of $61.75, while institutional investors own 92.7% of the company’s shares.
Equitable Holdings, Inc. (NYSE:EQH - Get Free Report) Director Arlene Isaacs-Lowe sold 1,000 shares of Equitable stock in a transaction on Friday, September 4th. The stock was sold at an average price of $52.83, for a total transaction of $52,830.00. Following the sale, the director directly owned 19,763 shares of the company's stock, valued at $1,044,079.29. This represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Equitable Stock Down 1.3%
EQH opened at $52.85 on Friday. The business's fifty day simple moving average is $49.03 and its 200 day simple moving average is $43.82. Equitable Holdings, Inc. has a 52 week low of $35.19 and a 52 week high of $55.15. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 8.75. The stock has a market cap of $14.43 billion, a PE ratio of -15.97, a P/E/G ratio of 0.52 and a beta of 1.10.
Equitable (NYSE:EQH - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.05. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $3.84 billion. Equitable had a positive return on equity of 511.35% and a negative net margin of 8.72%.The company's revenue was down 29.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 earnings per share. As a group, research analysts expect that Equitable Holdings, Inc. will post 7.18 earnings per share for the current fiscal year.
Equitable Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a $0.30 dividend. The ex-dividend date was Monday, August 3rd. This represents a $1.20 dividend on an annualized basis and a yield of 2.3%. Equitable's payout ratio is presently -36.25%.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on EQH shares. Keefe, Bruyette & Woods increased their price target on shares of Equitable from $62.00 to $67.00 and gave the company an "outperform" rating in a research report on Tuesday, August 11th. Jefferies Financial Group boosted their price objective on shares of Equitable from $64.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Barclays upped their price objective on shares of Equitable from $50.00 to $52.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Zacks Research raised shares of Equitable from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Finally, UBS Group lifted their target price on shares of Equitable from $63.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $61.75.
Check Out Our Latest Report on Equitable
Hedge Funds Weigh In On Equitable
Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Equitable during the second quarter valued at approximately $1,136,305,000. Price T Rowe Associates Inc. MD increased its stake in shares of Equitable by 7.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,258,124 shares of the company's stock worth $822,351,000 after buying an additional 1,132,861 shares during the period. California State Teachers Retirement System raised its holdings in Equitable by 2,696.7% during the 2nd quarter. California State Teachers Retirement System now owns 14,272,760 shares of the company's stock valued at $626,289,000 after buying an additional 13,762,414 shares during the last quarter. Capital International Investors boosted its position in Equitable by 23.0% during the 4th quarter. Capital International Investors now owns 13,545,628 shares of the company's stock valued at $645,449,000 after buying an additional 2,532,791 shares during the period. Finally, Norges Bank purchased a new stake in Equitable during the 4th quarter valued at $550,995,000. 92.70% of the stock is currently owned by institutional investors.
About Equitable
(
Get Free Report)
Equitable Holdings, Inc (NYSE: EQH) is a leading provider of life insurance, annuities and retirement plan services in the United States. Through its insurance subsidiary, AXA Equitable Life Insurance Company, the firm offers a broad range of permanent and term life insurance products designed to help individuals and families manage risk and build wealth. In addition, Equitable provides fixed, variable and indexed annuity solutions to support income planning in retirement, as well as a suite of group retirement and pension plan services for employers and plan sponsors.
The company also maintains an asset management arm that delivers investment strategies across equities, fixed income and alternative asset classes for both retail and institutional clients.
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